Posted 1 year ago Comments
If large companies are serious about innovation, they need to pick the right staff to lead the process and then put a fire under them, Pollenizer co-founder Phil Morle says, on the eve of the technology incubator holding its first course for entrepreneurs within companies.
To create new products or profitable business units, employees need to work in environments where there are limits on resources and “the fear of not getting there on time”, he says.
“It’s not going to work if it feels like they’re going to work every day and getting paid,” he adds.
Teams working on a project need a deadline and should work separately to the rest of the organisation for a period.
“They have to be able to configure the business [opportunity] so that it can be sold to your competitor,” Morle says. “That’s what makes the most value.”
The technology start-up incubator hopes to impart this wisdom to executives that participate in its new academy. The first five-week course starts in July and aims to help corporate executives be more entrepreneurial.
Morle says executives have a deep understanding of their businesses and can pull levers to “increase margins and performance” but without a more entrepreneurial approach, large companies risk becoming “irrelevant”.
“They need new products,” he says. “The world is moving so fast, start-ups are appearing all over the place at a rapid rate.
“Pollenizer is getting 50 ideas a week coming in, which are all trying to take a little piece of somebody else’s business. Unless companies are doing the same thing, eventually someone is going to eat their lunch.
“[The alternative scenario is that] 10 small start-ups will come together to form a better experience overall than what the [established companies] are doing. Media companies are greatly feeling this.”